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Daily stock market update September 16, 2020 - Market yo-yo

September 17, 2020
MCBOSS CAPITAL
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market update

How is stock market today?

The market yo-yo today after the Federal Reserve gave their report and Powell speaks. Nothing was unexpected as interest rates will remain low for a long time; however market went up at first but ultimately sell off at end of day.

What is the current support level?

Nasdaq fell to near its 50 days moving average. This is not a good sign especially finding resistance at its 21 days moving average.

S&P 500, Dow Jones and Russell 2000 are near its 21 days moving average. It will be important for these indices to find support at this level.

DJIA - above its 50 days moving average line near 27000; current at 28032
S&P 500 - above its 50 days moving average line near 3300; current at 3385
NASDAQ - above its 50 and days moving average line near 10800; current at 11050
RUSSELL 2000 - above its 50 moving average line near 1500; current at 1552

Which industry groups show strength?

There are strength in retail and industrial related industry groups.

Sector	Industry	Sub-group	#	Stocks
Retail	Consumer Services	Clothing/Shoe/Accessory Stores	11	COLM, CRI, GIII, GOOS, OXM, PVH, RL, TPR, UA, VFC, VNCE
Retail	Consumer Non-Durables	Shoe Manufacturing	2	CROX, DECK
Retail	Capital Goods	Auto Manufacturing	2	FCAU, TSLA
Retail	Consumer Non-Durables	Packaged Foods	4	ADM, ANDE, INGR, MGPI
Retail	Consumer Non-Durables	Meat/Poultry/Fish	3	BYND, IBA, TSN
Retail	Consumer Services	Marine Transportation	3	CLCT, UBER, VAC

Industrial	Basic Industries	Mining & Quarrying of Nonmetallic Minerals (No Fuels)	3	MLM, SUM, VMC
Industrial	Consumer Durables	Building Products	4	APOG, MWA, OC, WTS
Industrial	Basic Industries	Major Chemicals: Plastics	2	EMN, KRA
Industrial	Capital Goods	Fluid Controls	5	CFX, FLS, ITT, ITW, PNR
Industrial	Basic Industries	Paper	3	AIN, IP, WRK
Industrial	Transportation	Air Freight/Delivery Services	2	AAWW, FDX

Health	Health Care	Major Pharmaceuticals	25	ALKS, ALNY, ALXN, ANIK, ARGX, ARNA, ARVN, ARWR, CBPO, DCPH, EXEL, HZNP, INO, INSM, LJPC, NKTR, NTLA, QURE, RARE, RGNX, SAGE, SGEN, SGMO, SPPI, SRPT
Health	Health Care	Medical/Nursing Services	2	ADUS, DVA

Commodities	Energy	Coal Mining	4	ARCH, BTU, CNX, HCC

Financial	Capital Goods	Homebuilding	5	KBH, LEN, MDC, NVR, TOL
Financial	Consumer Services	Real Estate Investment Trusts	15	ADC, AMH, AMT, CLDT, COR, DLR, EPRT, GPMT, HIW, IIPR, NNN, PEB, STOR, VICI, VNO

Which industry groups from recent strength show weakness today?

None

Disclaimer: MCBOSS CAPITAL provides financial education and information research. None of this information should be used for investment purpose. Please seek professional advice. Information provided may not always be accurate.